As you weigh the pros and cons, keep in mind that timing is critical.With just a few exceptions, you get only one chance to consolidate with the government loan programs.Sallie Mae is the country’s premier financial services company specializing in the needs of college students and their families.
Student loans are also not offered by this enterprise.
Fannie Mae Student Loans Fannie Mae does not offer any kind of student loans.
You can consolidate all, just some, or even just one of your student loans.
Consolidating federal student loans may be a good strategy to lower monthly payments or to get out of default, but it is not always a good idea.
Loans that are not eligible for consolidation include state or private loans that are not federally guaranteed.
Although all of these different loans may be consolidated, you must have at least one outstanding FFEL or Direct Loan to obtain a Direct Consolidation Loan. Once your loans are combined into a Direct Consolidation Loan, they cannot be removed. If you want to lower your monthly payment amount but are concerned about the impact of loan consolidation, you might want to consider deferment or forbearance as options for short-term payment relief, or consider switching to an income-driven repayment plan.In addition to their extensive in-house services, Sallie Mae also acts as administrators for their client’s Federal student loans.College students will find that Sallie Mae can address all of their education related financial needs.Fannie Mae was chartered in 1934 as an FHA insured mortgage organization.